Data Becomes Most Common Fraud Target

October 20, 2010 – Fraud is a constant concern for insurers and a new report shows that insurers have good reason to be concerned.

Theft of information and electronic data at global companies, insurers included, has overtaken physical theft for the first time, according to the latest edition of the Kroll Annual Global Fraud Report. This year’s study shows that the amount lost by businesses to fraud rose from $1.4 million to $1.7 million per billion dollars of sales in the past 12 months — an increase of more than 20 percent.